Who We Are and What We Do
Gulf Island is a leading fabricator of complex steel structures and modules and provider of specialty services, including project management, hookup, commissioning, repair, maintenance, scaffolding, coatings, civil construction and staffing services to the industrial and energy sectors. The Company’s customers include domestic and, to a lesser extent, international energy producers; refining, petrochemical, LNG, industrial and power operators; and engineering, procurement and construction (EPC) companies. The Company is headquartered in Houston, Texas, and its primary operating facilities are located in Houma, Louisiana.
At Gulf Island, we believe our customers benefit from a dedicated, skilled workforce with decades of experience leveraging our applied learnings, bringing unmatched know-how to every project. We utilize the most modern tools, equipment, and technology throughout our facilities to construct products and structures of the highest quality for our domestic and international customers. Our modular fabrication takes the risk out of the field, reducing onsite project workforce needs and avoiding weather impacts.
Our Standard Industry Classification (SIC) code is 3440 – Fabricated Structural Metal Products. This reflects the core of what we offer in fabricating steel or other metal for structural purposes.
However, our Global Industry Classification Standard (GICS) code, managed by MSCI and S&P Global, is 10101020 – Oil and Gas Equipment and Services. That’s because, under the GICS methodology, companies are classified by the industries from which they derive their revenue. In our case, a majority of our revenue comes from customers in the oil and gas sector, including offshore oil and gas producers and refining, petrochemical, pipeline, and EPC companies. We do not believe this GICS code is the best classification for Gulf Island.
In short, many ESG metrics, such as those proposed by the Sustainability Accounting Standards Board (SASB), for our current GICS classification do not apply to our operations.
What we do:
- Provide high-quality fabrication of complex steel structures and modules
- Provide specialty services, including project management, hook-up, commissioning, repair, maintenance, scaffolding, coatings, civil construction and staffing services
- Employ almost 1,000 men and women, primarily in Louisiana and Texas
- Ensure an unyielding commitment to quality and safety in all aspects of our operations
Applying a philosophy of continuous improvement to monitor risk and minimize our impacts to the environment while raising our operating standards.
What we don’t do:
- Produce oil and gas, drill wells or manage production or drilling sites onshore or offshore
- Engage in hydraulic fracturing (“fracking”), handling fracking wastewater or provide chemicals to fracking companies
- Operate engines or equipment used in the production of oil and gas
- Own property associated with oil and gas production
- Transport or use hazardous chemicals used in the oil and gas industry
Committed to the safety and health of our employees and believe that a strong safety culture is a critical element of our success.
We continue to improve our ESG reporting transparency and evaluate which classification standard best aligns with our business. Our goal is to give investors a meaningful view of our key business risks and the strategies and activities we have employed to mitigate those risks. We expect to continue to make progress in 2022 and beyond.